Base Metals Preview: COMEX copper jumps over 2% in early Asia

COMEX copper jumps over 2% in early Asia on Friday tracing mild weakness in dollar overseas and positive cues from overnight equities. The major averages on Wall Street moved sharply higher, rebounding from yesterday's weakness. The major averages pulled back off their highs going into the end of the day but still posted strong gains. The Nasdaq surged 640.16 points or 2.5 percent to 25,809.66, the Dow shot up 929.97 points or 1.9 percent to 50,848.75 and the S&P 500 jumped 127.31 points or 1.8 percent to 7,394.30. Currently, the red metal is quoting at $6.42 per pound.

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